Car loan guide
Can I get a car loan without a driving licence?
The short answer
By Kevin Kho, Founder of Tiger Motors · Updated
Who can apply without a licence
The licence is the only thing that changes. Everything else a lender checks stays the same:
- Age 18 to 55. From 56, only with a fixed monthly income such as a pension and a guarantor.
- Full-time work, a registered business or a pension. Part-time, contract, probation and Grab income are not accepted.
- Salary paid into a bank account, or cash with EPF deducted, of at least about RM1,500 a month.
- No CCRIS blacklist, SAA, AKPK or bankruptcy. Small CTOS records are assessed case by case (see car loans with CTOS).
Which lenders accept no licence or an L licence
AEON Credit and Chailease both accept applicants without a full licence. For Perodua and Proton, AEON Credit charges about 5.28% flat for cars up to 5 years old, 5.58% at 6 to 10 years, and 9.1% (Perodua) or 9.9% (Proton) at 11 to 16 years. Chailease charges about 9%. A bank, for comparison, charges about 3.5%, but needs a full licence.
Tenure goes up to 9 years with both, limited by the car's age at the end of the loan: up to 17 years old (16 for Proton with Chailease), and AEON Credit doesn't finance cars older than 16 today. These are the estimates we quote; the lender sets your actual rate.
Example: what the lender difference costs each month
| Lender | Rate | Tenure | Monthly |
|---|---|---|---|
| BankLowest | 3.5% | 9 yrs | RM384 |
| AEON Credit | 5.28% | 9 yrs | RM431 |
| Chailease | 9% | 9 yrs | RM528 |
The 10% downpayment can be covered by Tiger Capital (up to 20% of the price). Estimates only; your actual rate and tenure are set by the lender.
Without a full licence, the bank row doesn't apply to you; AEON Credit and Chailease do.
Who will drive the car?
The car can be registered and financed in your name even if you don't drive. Whoever drives it needs a valid licence and should be covered by the car's insurance, so tell us who the main driver will be when we arrange the policy. If you are still on an L licence, remember the usual L-plate rules apply until you get your P licence.
Documents to prepare
The same as any car loan: your IC (front and back), 3 months' payslips, and your EPF statement or 3 months' bank statements. Self-employed applicants need their business registration (SSM) and 6 months of company bank statements. A driving licence is optional. Full list on the car loan page.
How Tiger Motors handles it
When you tell us you have no licence or an L licence, we submit your application to AEON Credit or Chailease instead of a bank, usually with an answer within 3 working days. Tiger Capital can then finance the 10% downpayment, so most approved buyers start with no deposit. Our 2-minute eligibility check asks about your licence and shows the cars that fit your budget.
Common questions
Can I buy a car and get a loan without a driving licence?
Yes. You don't need a driving licence to buy a car or apply for a car loan. Banks require a full licence, but AEON Credit and Chailease accept applicants with no licence or with only an L licence, so we submit your application to them instead.
What is the age limit for a car loan?
You can apply for a car loan from 18 up to 55 years old. From age 56, a loan is only possible if you have a fixed monthly income, such as a pension, and a guarantor who signs with you.
What documents do I need for a car loan as an employee?
Your IC (front and back), 3 months' payslips, and either your EPF statement or 3 months' bank statements showing your salary. Your driving licence (front and back) is optional. Some lenders also ask for an employment confirmation letter from your HR, so it helps to have one ready.
What interest rate and loan tenure can I get for a used car?
The maximum tenure is 9 years. Banks charge about 3.5% flat and finance cars up to 15 years old at the end of the loan. AEON Credit rates depend on the brand and the car's age: for Perodua and Proton, about 5.28% up to 5 years old, 5.58% at 6 to 10 years, and 9.1% (Perodua) or 9.9% (Proton) at 11 to 16 years; Japanese makes are lower, from about 3.99%. AEON finances cars up to 17 years old at the end of the loan and not older than 16 today. Chailease charges about 9% and finances cars up to 17 years old at the end of the loan (16 for Proton). For example, a 7-year-old car can get up to 8 years with a bank, but 9 years with AEON or Chailease. These are the estimates we quote; your actual rate is set by the lender.
How long does loan approval take?
Up to 3 working days after we receive all your documents. It can take longer if there are credit scoring issues or if the lender can't reach you for verification, so keep your phone on after submitting.
Find out what you qualify for, today.
Send us your preferred model or monthly budget on WhatsApp. Loan answer within 3 working days of receiving your documents.